It might come down to what's most important to you.
Of course it'd be best to try both, but that's difficult.

x7 positives (in my opinion/experience)
• The x7 is smaller, thinner, a bit more portable/travel ready.
• I think it has a slight edge in playability, though 24" is a darn short scale length...though longer than many travel guitars. I'd still call the x7 a travel guitar in scale and size.
• Stainless steel frets are a plus, nice to know it's as low-maintenance as you can get.
• The gig bag is durable and light. Fits better than the Parlor case, and is lighter.
• The build feels a bit more solid than the Rainsong (which is built lighter, and the top and sides flex with pretty light touch)...though I don't have real durability concerns with the Rainsong, just noting how they feel different. I do appreciate the one-piece design, especially for a durable travel guitar.
• Forearm bevel adds comfort, Emerald's design and sculpting work is very impressive.

x7 possible cons
• The x7 has a non-traditional tone...immediate, open, hard. Not warm. (I might attribute that to the large soundhole, the smaller, radiused, and relatively-thicker top, which seems about as thick as a wood top, but braceles.).
• Non-traditional looks...the Parlor blends in a bit more, looks more like a capital-G guitar.
• I did feel like I needed a Neck-Up (personal taste) with the x7, as I'm tall and have to lean over it. The Parlor sits nicer on my lap.

Parlor positives
• Tone. Excellent, warm, articulate tone. Best tone I've heard from a CF guitar this size...probably partly thanks to the deep body (and top design).
• It makes a great travel guitar, but isn't spec'd as small/short as a travel guitar.
• The body is deeper than many full-sized guitars, and that delivers depth, bass, and richness that most guitars this size/shape don't have. The claim, "sounds bigger than it's size," is often made about CF guitars, but that's usually debatable/subjective. Not here.
• It's lightly, thinly built (including what's effectively a relief-routed double top), and has the resonance and responsiveness to show for it.

Parlor possible cons
• Too big for a travel guitar? I don't think so, but you might be looking for something smaller.
• Factory electronics are not elegant. Mine had a ridiculous amount of extra, bundled-up wires inside. They rattled. Two of the wire retainers also detached, so more wire banging. The preamp housing and mount vibrated at many various frequencies, no matter whether I tightened screws. Awful.
• Standard frets means eventual fret replacement maintenance.
• The Parlor case's length is spec'd for the P14, so it's a bit longer than needed. Also, a heavy case for a light, intimate, travel ready, durable guitar? A nice fitting bag would be better.
• As I mentioned, the top and sides flex with a fairly light push...that's not a problem for me, and the light build is probably responsible for the great tone. But it's unusual, so it's worth noting. Also, I've noticed with mine (as others have noted on AGF) that the soundhole has a slight distortion noticeable in light/glare...part higher, part lower, like the top is flexed from the strings. Again, not a concern, but an oddity worth mentioning.
• The neck is full. I like it alright, adapted fine, but it's worth mentioning. It's full and you'll notice that.
• Factory set up was uncomfortably high, and higher than my RS dread. It needed some major saddle shaving and truss rod tweaking. Neck angle is good, though.